The GBP/USD pair remains on the defensive around 1.2895, the lowest since August 16 during the early Asian trading hours on Friday.

The USD/CAD pair gained traction on Thursday, rising by 0.15% to 1.3920.

The EUR/USD pair extends the rally to 1.0885 during the early Asian session on Friday.

As a presidential race profoundly shaped by Americans' frustration with high prices nears its end, the government said Thursday that an inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels.

Inflation is not done with us yet. | Economy

Overall inflation slowed in September from a year earlier, though some signs of stubbornness lingered under the surface.

Headline inflation rose more-than-expected to the ECB's inflation target at 2.0% in October.

Eurozone inflation met the European Central Bank's target level of 2% in October after rebounding strongly from its lowest rate in three years the previous month.

The eurozone's annual inflation rate rebounded more than expected in October due to rising food costs, official data showed on Thursday, but remains in line with the European Central Bank's two-percent target. Other Eurostat data published on Thursday showed the unemployment rate in the single currency area remained stable at 6.3 percent in September. raz/ec/rl

The eurozone's annual inflation rate rebounded more than expected in October due to rising food costs, official data showed on Thursday, but remains in line with the European Central Bank's two-percent target. Other Eurostat data published on Thursday showed the unemployment rate in the single currency area remained stable at 6.3 percent in September. raz/ec/rl

The United States Bureau of Economic Analysis (BEA) is set to release the Personal Consumption Expenditures (PCE) Price Index data for September, which is the Federal Reserve’s preferred measure of inflation, at 12:30 GMT.

The Harmonized Index of Consumer Prices (HICP), the European Central Bank's (ECB) preferred gauge of inflation, rose 2% on a yearly basis in October's flash estimate, Eurostat reported on Thursday.

The fresh inflation print is seen as crucial in judging whether the European Central Bank could consider a half-percentage-point interest rate cut.

Yesterday's GDP data for the third quarter disappointed, especially in Hungary, confirming a return to technical recession, but the data in the Czech Republic was also slightly weaker, below central bank expectations, ING’s FX analyst Frantisek Taborsky notes.

EUR/GBP trades slightly lower during early European hours on Thursday near 0.8360, following strong gains in the previous session.

As a presidential race profoundly shaped by Americans' frustration with high prices nears its end, the government said Thursday that an inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels.

EUR/USD extends its upside to near 1.0890 in Thursday’s North American session following Wednesday’s sharp recovery.

As a presidential race profoundly shaped by Americans’ frustration with high prices nears its end, the government said Thursday that an inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels.

(Bloomberg) — French inflation came in below the European Central Bank’s 2% target for the second consecutive month, boosting the case for policymakers to quicken the pace of interest-rate cuts.

But it’s the 41st consecutive month of the Federal Reserve’s preferred core PCE inflation, which excludes more volatile food and energy expenditures, coming in well above the central bank’s long-term goal of 2%.

The Pound Sterling (GDP) data reports for Q3 from France, Spain and Germany all beat expectations, lifting preliminary Eurozone growth to 0.4% in the quarter, double expectations, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), rose to 2% on a yearly basis in October from 1.6% in September, Destatis' flash estimate showed on Wednesday.

Germany's inflation surged to 2.4% in October, back above the European Central Bank's 2% target, even as the country narrowly avoided a technical recession in the third quarter.

After two significant declines, German inflation rate rose again in October, from 1.6% to 2.0%.